This is a reflective post, I don't have any answers, per se, but I do have questions. It's great that gasoline prises are falling across the country these day, we can all use a break.
I know demand is falling, which if you kept supply constant [which is theory and not possible] that would explain the fall in price. So the same oil is coming out the ground, being processed the same way, but it's much cheaper now because purely demand has peaked? Were talking a 50% drop in price. You have to ask yourself why oil was allowed to get up to $145 per barrel if it did not really reflect the true cost?
Unregulated commodities markets? Horrible foreign policy under Bush? Fear? It will be one of the many Bush legacies, or Bush Tax, that we will figure out in the coming months.
Some other Bush legacies to investigate: the evisceration of the American middle class and the collapse of the world economy.
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